Crypto investment platform Unicoin fights back against SEC fraud lawsuit, claiming agency distorted regulatory statements. SEC accused Unicoin of deceiving investors about certificates for Unicoin tokens and stock worth $100 million. Unicoin argues SEC needs higher standard of proof, calling lawsuit a “shotgun pleading” lacking motive and relying on mischaracterized evidence.

SEC alleges Unicoin misled investors about real-world asset backing for tokens and certificates, inflating value of assets. Unicoin disputes claims, stating executives were referring to asset-backed company, not tokens. SEC accused Unicoin of misrepresenting financial situation, advertising unregistered tokens and certificates.

Unicoin counters SEC claims, stating tokens were not created yet and SEC misunderstood forward-looking optimism. Lawsuit prevented Unicoin from minting tokens and securing assets. Unicoin seeks dismissal of SEC lawsuit, arguing deal and property values were misconstrued. SEC’s unclear crypto regulations under scrutiny after Ripple case.

Read more at Coin Telegraph: SEC Skewed Filings To Bring Suit, Unicoin Claims